13-5-2025 – The Securities and Exchange Commission’s Chairman Paul Atkins has orchestrated a fundamental overhaul of America’s approach to digital asset oversight. The announcement, made during the SEC’s Crypto Task Force symposium, marks a decisive departure from the commission’s previous enforcement-led strategy.
The comprehensive reform package centres on three vital components: establishing clear pathways for digital asset issuance, modernising custody requirements, and reimagining trading infrastructure. This strategic pivot aims to foster innovation whilst maintaining robust market safeguards.
Drawing parallels with the music industry’s digital revolution, Atkins illustrated how technological advancement demands regulatory evolution. “Just as streaming transformed how we consume music, blockchain technology is revolutionising financial markets,” he observed during the 12 May gathering.
The reforms tackle long-standing hurdles in institutional participation, with particular attention to modernising the definition of “qualified custodian”. The Chairman advocated for embracing contemporary custody solutions, including blockchain-native storage mechanisms and self-custody arrangements, whilst proposing reforms to restrictive accounting guidelines.
Central to the initiative is a streamlined framework for compliant token launches. Acknowledging the limitations of existing regulatory channels, the SEC plans to introduce bespoke exemptions and simplified disclosure requirements, making regulatory compliance more achievable for blockchain ventures.
In a forward-looking stance, Atkins expressed support for integrated trading platforms that could bridge traditional and digital asset markets. The Chairman also suggested implementing conditional exemptions for novel financial products that challenge conventional regulatory classifications.
